Moving expenses — what’s deductible and when (June 2021)
Pandemic notwithstanding, the Canadian real estate market is booming, in terms of both house prices and sales activity. According to Canadian Real Estate Association statistics, the number of sales in...
A mid-year tax check-up on your taxes (June 2021)
By the beginning of June, most Canadians have filed their individual income tax return for the 2020 tax year and received a Notice of Assessment (NOA) outlining their tax position for that year. Those...
Mortgage lending rules tighten effective June 1, 2021 (June 2021)
Over the past decade, the rules governing mortgage lending in Canada have been repeatedly amended, each time to impose more stringent requirements on would-be mortgage borrowers. The latest such chang...
How to not fall victim to a tax scam (May 2021)
It is a sad fact that, every year, thousands of Canadians become the victims of scams in which fraud artists claim to be representatives of the federal government. Equally sadly, in most cases the mon...
Fixing a mistake in your (already filed) tax return (May 2021)
For the majority of Canadians, the due date for filing of an individual tax return for the 2020 tax year was Friday April 30, 2021. (Self-employed Canadians and their spouses have until Tuesday June 1...
New Quarterly Newsletters (Q1 2021)
Two quarterly newsletters have been added—one dealing with personal issues, and one dealing with corporate issues....
What to do when you can’t pay your tax bill (April 2021)
Most taxpayers sit down to do their annual tax return, or wait to hear from their tax return preparer, with some degree of trepidation. In most cases taxpayers don’t know until their return is compl...
Paying the taxman – when and how (April 2021)
Our tax system is, for the most part, a mystery to individual Canadians. The rules surrounding income tax are complicated and it can seem that for every rule there is an equal number of exceptions or ...
When CERB benefits don’t have to be repaid (April 2021)
When the pandemic was declared just over a year ago, the federal government announced a wide range of benefits to help mitigate the financial stress experienced by those who lost jobs or saw their hou...
What’s new on the 2020 tax return? (March 2021)
While the obligation to file a tax return recurs annually, that return form is never exactly the same from year to year. Tax brackets and allowable deduction and credit amounts change each year and, m...
When and how to file this year’s tax return (March 2021)
Each year, the Canada Revenue Agency (CRA) publishes a statistical summary of the tax filing patterns of Canadians during the previous filing season. Those statistics for the 2020 filing season show t...
Taking advantage of pension income splitting (March 2021)
Income tax is a big-ticket item for most retired Canadians. Especially for those who are happily free of the requirement to make mortgage payments, the annual tax bill may be the single biggest annual...
Paying the piper - the taxation of pandemic benefits (March 2021)
Over the past month, millions of Canadians have received what was probably an unexpected (and unwelcome) communication from the Canada Revenue Agency (CRA), in the form of a T4A slip. That T4A slip li...
New Quarterly Newsletters (Q4 2020)
Two quarterly newsletters have been added—one dealing with personal issues, and one dealing with corporate issues....
2019 Personal Tax Rates
Ordinary Income
Dividends (Eligible)
Dividends (Ineligible)
Capital Gains
Up to $43,900
20.05%
0%
8.91%
10.03%
$43,900 to $47,600
24.15%
0%
13.61%
12.08%
$47,600 to $77,300
29.65%
6.39%
19.93%
14.83%
$77,300 to $87,800
31.48%
8.92%
22.04%
15.74%
$87,800 to $91,100
33.89%
12.24%
24.81%
16.95%
$91,100 to $95,300
37.91%
17.79%
29.43%
18.95%
$95,300 to $147,600
43.41%
25.38%
35.76%
21.70%
$147,600 to $150,000
46.41%
29.52%
39.21%
23.20%
$150,000 to $210,400
47.97%
31.67%
41.00%
23.98%
$210,400 to $220,000
51.97%
37.19%
45.60%
25.98%
Greater than $220,000
53.53%
39.34%
47.40%
26.76%
2019 Corporate Tax Rates
CCPC up to $500,000
12.50%
Ordinary corporate income
26.50%
Manufacturing and processing corporate rate
25.00%
Investment income
50.17%
Refundable portion of tax on investment income
30.67%
Net of refundable on investment income
19.50%
Dividend refund
38.33%
Tax on portfolio dividends
38.33%
Dividend gross-up (eligible)
38.00%
Dividend gross-up (ineligible)
15.00%
A New Consulting Division at Lund & Associates …
Services Relating to the Sale of a Business
We are excited to announce that we are expanding at Lund & Associates to include a consulting division to offer services relating to the planning for and actual sale of a business at a maximum value.
Valuing the business
Preparing the business for sale to maximize value
Minimizing risk factors for a purchaser that affect the ability to sell the business
Tax planning relating to the sale of a business
Preparing information documents to assist in the sale process
Identifying potential buyers and approaching the buyers
Assisting with the negotiation of terms to the point of a Letter of Intent
Coordinating document flow with banks/lenders involved in the business and sales transaction
Liaison with lawyers to assist in preparation of agreements
We have developed expertise in this area over several years as we have been working with owner-managers right through their business cycle from start-up to eventual sale of the business.
In most cases planning for the sale of a business should begin several years before the planned sale date.
If you, or anyone you know, are interested in discussing how we can help you prepare for the Sale of a Business, please contact Brad Lund at bradl@lundandassociates.com .
